One of George Economou’s dry bulk arms, TMS Dry, has dived into the secondhand market.
Over the weekend, the panamax-focused player headlined numerous broking reports as the buyer of two Japan Marine United-built kamsarmax bulk carriers, TMS’s first purchase in 2022. The two 2015-built 80,000 dwt ships – BTG Kailash and BTG Olympos – fetched some $71m after inviting offers. The price is described as firm.
The seller of the bulker duo, Bulk Trading Group, is a joint venture between Kristian Gerhard Jebsen Group which is controlled by Hans Peter Jebsen and his family and JP Morgan Global Maritime. BTG ordered a total of eight sister ships for about half the price between 2012 and 2013 and has timed the market well with its latest sale. In comparison, its last sale was in 2016, when it sold two ships for $23m each. BTG is left with four ships after this sale.
